This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Newman Ferrara LLP Announces Investigation Of Complete Genomics, Inc.

Newman Ferrara LLP has begun an investigation into potential claims against the board of directors of Complete Genomics, Inc. (“Complete Genomics”) (Nasdaq: GNOM) concerning the proposed acquisition of Complete Genomics by BGI-Shenzhen.

On September 17, 2012, Complete Genomics announced that it had entered into an agreement and plan of merger to be acquired by BGI-Shenzhen in an all cash deal valued at approximately $117.6 million. Under the terms of the agreement, Complete Genomics’ shareholders will receive $3.15 for each share of Complete Genomics stock owned.

However, Complete Genomics’ common stock traded at above the $3.15 offer price as recently as May 29, 2012 when it traded at $3.20 per share. Complete Genomics’ common stock also reached a trading high of $7.73 per share within the past year. In addition, in connection with the deal, Complete Genomics entered into an agreement with a wholly owned subsidiary of BGI-Shenzhen to be given a $30 million bridge loan to fund operations once the proposed acquisition is completed.

Complete Genomics’ Board of Directors has unanimously approved the proposed merger agreement which is expected to close early next year.

Newman Ferrara LLP’s investigation concerns whether Complete Genomics’ Board of Directors has breached its fiduciary duties to act in the best interests of Complete Genomics’ shareholders and to take all necessary steps to ensure that Complete Genomics’ shareholders receive the maximum value readily available for their shares of Complete Genomics common stock.

Concerned investors are encouraged to contact Newman Ferrara attorney Roy Shimon at (212) 619-5400 or rshimon@nfllp.com to discuss this investigation, their rights, or potential remedies.

Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs